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Donald Trump Junior to Speak at Cityscape

DUBAI — Donald Trump Junior, a real estate specialist — like his better-known father, is to deliver the keynote presentation at Cityscape Dubai 2009, to take place on October 5-8. He will address a range of issues including his forecast for recovery and existing market opportunities, Cityscape said on Tuesday.

Trump, the son of famed real estate developer Donald Trump says real estate prices will bottom out in 2010, but the world will only fully recover from recession when the United States is out of the red.

Asked when he believed real estate prices would bottom out, Trump said: “Due to the persistent buy-sell gap, the unwillingness of banks to foreclose and the complexity of workouts - I would say that it will be sometime in 2010 before we get the sense that we have bottomed out.”

Giving a preview of his Cityscape Dubai address, Trump said that on worldwide recession that although some markets such as China may recover sooner, “a consensus will be reached on the state of the world economy and its recovery once the US is out of the red.” He added that he sees emerging countries recovering more quickly, because fundamental demand in so many of these countries is still very strong.